Abstract: In order to explore the influence of the continuous inclusion network on the impact performance of WR13 tool and die steel, the WR13 alloy powder was prepared by argon atomization and formed by hot isostatic pressing sintering. Taking the imported WR13 alloy powder with a low oxygen content and the corresponding ingot material as the control, with the help of an oxygen-nitrogen-hydrogen analyzer, a laser particle size analyzer, a scanning electron microscope and a pendulum impact tester, a systematic comparative study was carried out from the micro characterization to the mechanical properties. The research demonstrates that the formation of reticular inclusions is closely related to the coupling effect between alloy powder particle size and oxygen content. The reticular inclusions formed by Al2O3 particles were observed exclusively in ingots prepared from small-sized and high-oxygen-content alloy powders. These inclusions disrupt the metallurgical bonding between the substrates and induce stress concentration due to deformation mismatch with the substrates, serving as the primary initiators of crack formation. Comparative results showed that ingots without continuous reticular inclusions achieved an impact energy of 17.5 ± 3.08 J, whereas those containing such inclusions exhibited a reduced impact energy of 7.9 ± 3.97 J, with significant fluctuations. Fracture morphology analysis revealed that larger inclusion sizes and higher inclusion density facilitated crack initiation and propagation, ultimately degrading the impact performance and stability of the ingots.